Correct, and it goes further than just notices to ASX.
Due to their current shareholding level (>20%) they are limited to how much they can buy in any 6 month period (no more than +3%). If they breached this requirement they would be required to launch a takeover bid or enter into a scheme of arrangement.
The following article explains it all pretty well. https://www.minterellison.com/articles/summary-of-australian-takeover-laws
It also explains why AF would not be selling on market or off market to BMM.
Correct, and it goes further than just notices to ASX. Due to...
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0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.14M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.3¢ | $5.459K | 1.513M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 53 | 33963252 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 3205511 | 6 |
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